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Photo Finishes.(auctions)

Newsweek International

| June 11, 2007 | Haq, Amber | COPYRIGHT 2007 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Amber Haq

When Hungarian emigre photographer Gyula Halasz --better known as BrassaA[macron]--landed in Paris in 1924, he was so destitute that he went around knocking on doors, offering to take portraits of high-society members. "He'd sell them for a pittance," says

Veronique de Folin, a Paris photo-gallery owner whose grandmother was one of BrassaA[macron]'s first subjects. "Just enough to buy a baguette and his pack of cigarettes."

Today his alluring black-and-white images of midcentury Paris--along with those of photographers like Andre Kertesz, Henri Cartier-Bresson and Robert Doisneau--are among those works that consistently outperform auction estimates. At last year's Paris auction of BrassaA[macron]'s estate, sales totaled about [euro]5 million--300 percent more than the estimate. "Photography is the only art market with a history of continuous boom," says Francis Hodgson, head of photography at Sotheby's. "Overall there has been no downturn, and one isn't expected soon."

To build a good investment portfolio, gallery owners and art experts agree, collectors ...

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